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Sep 17, 2012
09/12
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. >> erskine bowles, we hear you. [laughter] >> caller: thank you, i deeply appreciate what you're doing, senator nunn. i also want to thank john for being there and senator pete domenici who along with my -- my godmother of all deficit reduction work alice rivlin they did for the great work they did on their panel. i appreciate all of you being here today. i'm glad i'm getting a chance to talk to you too, because i am worried. i'm afraid that if we can't get the members of congress and the administration to put this ultra partisanship aside and pull together rather than apart we face the most predictable economic crisis in history. bob and steve did a good job of discussing it. there's no question, if you look at the plain math, the fiscal path that the nation is on is simply not sustainable today. and for me, you know, these deficits are like a cancer, and i say that because they are going to destroy our country from within if we don't do something about it and do it very quickly. let me give you my one piece of mat
. >> erskine bowles, we hear you. [laughter] >> caller: thank you, i deeply appreciate what you're doing, senator nunn. i also want to thank john for being there and senator pete domenici who along with my -- my godmother of all deficit reduction work alice rivlin they did for the great work they did on their panel. i appreciate all of you being here today. i'm glad i'm getting a chance to talk to you too, because i am worried. i'm afraid that if we can't get the members of congress...
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Sep 26, 2012
09/12
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FBC
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erskine bowles is a name a lot of people talk about as having a good possibility. he is someone who theoretically can work with republicans. formal wall street guy. co-president of president obama's budget commission. very good ideas widely ignored by the president. he is a guy republicans like. you want to do a major budget deal with republicans, erskine bowles can make that happen. the other guy i hear a lot about is a guy i know very well and consider a friend. very decent man who is the ceo of black rock. larry wants the job. no doubt. he has been at the top. and amazing career on wall street. top trader at first boston early in his career started black rock as a subsidiary of blackstone and spun it out and the biggest money management firm in the world and he is one of the smartest guys and if there's a european financial crisis, just anybody on wall street so he is a good guy and if you worry about wall street imploding he might be a good one. cheryl: we launched the business network and did an interview -- cool cucumber. nothing fazes that guy. this was spra
erskine bowles is a name a lot of people talk about as having a good possibility. he is someone who theoretically can work with republicans. formal wall street guy. co-president of president obama's budget commission. very good ideas widely ignored by the president. he is a guy republicans like. you want to do a major budget deal with republicans, erskine bowles can make that happen. the other guy i hear a lot about is a guy i know very well and consider a friend. very decent man who is the ceo...
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Sep 23, 2012
09/12
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host: first cannonballs and press -- erskine bowles and alice simpson were on "meet the press." ersking bowles was asked what is next. here is what he had to say. [video clip] >> i'm frightened that we are going to meet this fiscal cliff and see this debt to country. it could lead to very horrible economic results. i met with the president. >> you took the ax. >> i did. >> we were not looking to do that, but i'm confident talk of the election that he's prepared to negotiate with the republicans and come up with a plan that falls within the framework of what we talked about. >> i believe that, too. host: mr. woodward. guest: i ask the president about this two months ago. he said the proposals by the simpson-bowles commission included in eliminating some of the tax deductions are cutting back on the charitable deductions, health insurance deductions, and the mortgage insurance deduction, the president told me that those would be "wildly unpopular." they would never pass congress. i think he's right. you need some sort of serious tax reform negotiation that would take months, maybe
host: first cannonballs and press -- erskine bowles and alice simpson were on "meet the press." ersking bowles was asked what is next. here is what he had to say. [video clip] >> i'm frightened that we are going to meet this fiscal cliff and see this debt to country. it could lead to very horrible economic results. i met with the president. >> you took the ax. >> i did. >> we were not looking to do that, but i'm confident talk of the election that he's prepared...
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Sep 26, 2012
09/12
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FBC
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[talking over each other] charlie: erskine bowles is no stranger to wall street. melissa: the president wouldn't be running for reelection again so he doesn't care, a best buddy at wall street. [talking over each other] melissa: such a great knowledge of the industry. charlie: you could also make the point that the last thing he needs is a base going nuts and boycotting midterms. he gets the same thing anyway. melissa: the risk that he is good and worth it and gets political backlash. charlie: you think tim geithner is good? the fact that you don't answer that says a lot and i tell you the fresen -- not necessarily this president but one of the problems with this president and here is the reason larry might not take the job. when he sits down in his office and thinks big thoughts this president has downgraded the treasury secretary to a large extent. tim geithner is one of the players but guess who is a major player in economic policy? a woman named valerie jarrett who is a special advisor. she called a lot of shops when it comes to economics. bill bailey i know f
[talking over each other] charlie: erskine bowles is no stranger to wall street. melissa: the president wouldn't be running for reelection again so he doesn't care, a best buddy at wall street. [talking over each other] melissa: such a great knowledge of the industry. charlie: you could also make the point that the last thing he needs is a base going nuts and boycotting midterms. he gets the same thing anyway. melissa: the risk that he is good and worth it and gets political backlash. charlie:...
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Sep 20, 2012
09/12
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CNBC
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bowles, we're trying to create resources for members of congress to do. >> what's going on as far as the federal reserve bailing out this economy? did bernanke have any impact? and do you think it's extraordinary that we haven't seen any fiscal fix here, and it's really all been monetary fixes? >> yes, i agree 100%. and i think bernanke made a mistake for doing qe 3 at a lot of levels. it does risk inflation in the out years. it takes the pressure off congress to act. because it basically, by keeping interest rates so low, you're creating an artificial sugar high for the economy and the markets. i think it would have been much more constructive, if he really wanted to read the congress the riot act, to say, i'm not going to bail you out any longer, step up and deal with these issues. >> is he getting political? >> you know, that's a good question. the feds become under really inappropriate pressure from the political side of the aisle in my opinion. the last thing you want is a federal reserve that has to turn to the congress in order to get approval for how it's going to deal with t
bowles, we're trying to create resources for members of congress to do. >> what's going on as far as the federal reserve bailing out this economy? did bernanke have any impact? and do you think it's extraordinary that we haven't seen any fiscal fix here, and it's really all been monetary fixes? >> yes, i agree 100%. and i think bernanke made a mistake for doing qe 3 at a lot of levels. it does risk inflation in the out years. it takes the pressure off congress to act. because it...
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Sep 27, 2012
09/12
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FOXNEWS
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erskine bowles, the democrat on that committee, run by simpson, and he came out and said that paul ryan is one of the best in the business. he is a democrat saying this. a guy we should look up to. >>neil: how will he do in the debate with biden? >>guest: the problem with both these guys, are they street fighters? i don't like the president's economic policies. yes biden is an aider and -- an aider and abettor. sarah palin did well against biden in 2008 and she is a secret fighter but he didn't want to attack a woman, to be honest. >>neil: what i know about biden he got 18,000 votes on primary, and hillary clinton got 18 million votes. >>guest: he is a street fighter. he has been around. >>neil: charlie, good reporting, as always. in the meantime, 40 days out and the president is pulling ahead but who says that spells trouble for governor romney? what if i told you it could be the reverse? i will explain. .. [♪...] >> announcer: with nothing but his computer, an identity thief is able to use your information to open a bank account in order to make your money his money. [whoosh, clang]
erskine bowles, the democrat on that committee, run by simpson, and he came out and said that paul ryan is one of the best in the business. he is a democrat saying this. a guy we should look up to. >>neil: how will he do in the debate with biden? >>guest: the problem with both these guys, are they street fighters? i don't like the president's economic policies. yes biden is an aider and -- an aider and abettor. sarah palin did well against biden in 2008 and she is a secret fighter...
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Sep 10, 2012
09/12
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WRC
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. >> erskine bowles said something's got to give, that your plan would not actually reduce the deficit, that indeed taxes would have to go up on the middle class. what gives? if you're not right about your projections? >> first of all, i've got princeton, harvard, "wall street journal" and aei all saying actually that we can bring down the rates and if we limit or eliminate some of the loopholes and deductions at the high end we keep the current progressivity of the code and the same revenue coming in to the government, we get more growth in the economy. my tax policy is designed to find a way to encourage more hiring in this country. i'm very concerned that we have 23 million people who are underemployed or stopped looking for work. everything i warrant to do with regards to taxation follows simple principles -- bring our rates down to encourage growth, keep revenue up by limiting deductions and exemptions and make sure we don't put any bigger burden on middle income people. in fact i want to lower the burden on middle income people. >> but governor, where are the specifics how you ge
. >> erskine bowles said something's got to give, that your plan would not actually reduce the deficit, that indeed taxes would have to go up on the middle class. what gives? if you're not right about your projections? >> first of all, i've got princeton, harvard, "wall street journal" and aei all saying actually that we can bring down the rates and if we limit or eliminate some of the loopholes and deductions at the high end we keep the current progressivity of the code...
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Sep 17, 2012
09/12
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host: first cannonballs and alice simpson were on "meet the press -- erskine bowles and alice simpson were on "meet the press." [video clip] >> i'm frightened that we are going to meet this fiscal cliff and see this debt to country. it could lead to very horrible economic results. i met with the president. >> you took the ax. >> i did. >> we were not looking to do that, but i'm confident talk of the election that he's prepared to negotiate with the republicans and come up with a plan that falls within the framework of what we talked about. >> i believe that, too. host: mr. woodward. guest: i ask the president about this two months ago. he said the proposals by the simpson-bowles commission included in eliminating some of the tax deductions are cutting back on the charitable deductions, health insurance deductions, and the mortgage insurance deduction, the president told me that those would be "wildly unpopular." they would never pass congress. i think he's right. you need some sort of serious tax reform negotiation that would take months, maybe a year, maybe longer. reagan did it in h
host: first cannonballs and alice simpson were on "meet the press -- erskine bowles and alice simpson were on "meet the press." [video clip] >> i'm frightened that we are going to meet this fiscal cliff and see this debt to country. it could lead to very horrible economic results. i met with the president. >> you took the ax. >> i did. >> we were not looking to do that, but i'm confident talk of the election that he's prepared to negotiate with the...
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Sep 21, 2012
09/12
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CSPAN2
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erskine bowles, who was president clinton's chief of staff, appointed by president obama to head the debt commission, this is what he said about the state of our finances. you've heard it said that 40% of what we spend every day -- 40% of that is borrowed, really $4 billion a day that we borrow, and you probably think that's not true. you probably think that can't be true, that 40 cents of every dollar that we spend, that we put out the door, has to be borrowed from countries around the world and from others who will loan us the money and we pay interest on it. this is what mr. bowles said. "if you take last year, 100% of our revenue came -- that came into the country, every nickel, every single dollar that came into the country last year was spent on what we call 'mandatory spendinspending' and 'interest e debt.' medicare, medicaid, and social security, the entitlement programs. what that means, every single dollar we spend last year an these two years, national defense, homeland security, education, infrastructure, high-value-added research, every single dollar was borrowed." "and
erskine bowles, who was president clinton's chief of staff, appointed by president obama to head the debt commission, this is what he said about the state of our finances. you've heard it said that 40% of what we spend every day -- 40% of that is borrowed, really $4 billion a day that we borrow, and you probably think that's not true. you probably think that can't be true, that 40 cents of every dollar that we spend, that we put out the door, has to be borrowed from countries around the world...
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Sep 17, 2012
09/12
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host: yesterday in an interview with david gregory, erskine bowles was asked about what was next, we were facing. here is what he had to say. [video clip] >> first of all, i am frightened that we are one to take that high of a wrist on this fiscal cliff. it could lead to horrible economic results. i have met with the president. >> i did not take the axe. >> he said i did not want any jobs appear. i was not looking to throw it over the desk. i am confident that after the election he is prepared to negotiate with the republicans and come up with a plan that falls within the framework of what we've talked about. >> i believe that too. guest: i asked the president about this two months ago. he said that the proposals that the some symbols commission included, the health insurance deductions, the mortgage interest deductions, the president told me that those would be wildly unpopular and would never pass congress. i think he is right. you need some sort of serious tax reform negotiation. maybe even longer. when ronald reagan did it in his presidency in 1986, they were able to lower rates
host: yesterday in an interview with david gregory, erskine bowles was asked about what was next, we were facing. here is what he had to say. [video clip] >> first of all, i am frightened that we are one to take that high of a wrist on this fiscal cliff. it could lead to horrible economic results. i have met with the president. >> i did not take the axe. >> he said i did not want any jobs appear. i was not looking to throw it over the desk. i am confident that after the...
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Sep 11, 2012
09/12
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and he appointed two outstanding people to chair that budget commission, erskine bowles, who is the chief of staff for president clinton, and alan simpson who was a longtime senator here, senator from the west, a member of the revenue committee, and they did some diligent work with the commission and they came up with a plan. they actually came up with a plan for how we could save america. i did hear the senator from iowa say some of these people talking are talking like we're broke. you know what? we're pretty close to broke. when your national debt is the same as your gross national product, you are in trouble. and the united states, every man, woman, and cield owes a shade over $50,000. you've been seeing the riots in greece and italy. in italy they only owe $40,000 per person. in greece they only owe $39,000 per person. yes, we are the most resilient country in the nation and that's why we are a little breathing room but it's inhaling time. it's time to figure out what we're going to do about it. now, i really did expect after the president appointed this deficit commission that when
and he appointed two outstanding people to chair that budget commission, erskine bowles, who is the chief of staff for president clinton, and alan simpson who was a longtime senator here, senator from the west, a member of the revenue committee, and they did some diligent work with the commission and they came up with a plan. they actually came up with a plan for how we could save america. i did hear the senator from iowa say some of these people talking are talking like we're broke. you know...
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Sep 13, 2012
09/12
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CNNW
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and bill clinton's chief of staff, erskine bowles. they came up with a plan to cut the debt by $4 trillion overten years. vice presidential candidate paul ryan was a member of that commission but he and enough others voted against it so it never even got to congress. critics say president obama has all but ignored it. >> commission co-head allen simpson says the growing debt poses a major threat to the u.s. economy. >> where is the tipping point? i don't know where it is. but when it comes, it's going to be so swift and so savage. >> reporter: the president says he still wants to reach an agreement based on simpson-bowles, and while he's proposed cuts, they're not enough. obama's plan proposes $360 billion in cuts to medicare, medicaid and other programs over the next decade, but because costs in those programs are rising fast, the debt would be $6.4 trillion higher in ten years. the appellapresident's budget a cuts to discretionary and mandatory spending that would save $737 billion over a decade. military spending would be reduced,
and bill clinton's chief of staff, erskine bowles. they came up with a plan to cut the debt by $4 trillion overten years. vice presidential candidate paul ryan was a member of that commission but he and enough others voted against it so it never even got to congress. critics say president obama has all but ignored it. >> commission co-head allen simpson says the growing debt poses a major threat to the u.s. economy. >> where is the tipping point? i don't know where it is. but when...
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Sep 20, 2012
09/12
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CSPAN2
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such as alan simpson, erskine bowles and wall street billionaire pete peterson -- and peterson is one of the guys, billionaire on wall street putting huge amounts of money in order to cut social security and other important programs -- they believe that social security colas and colas for veterans' benefits are too generous, and they want to cut those cola benefits. i will tell you something, when i talk to seniors in the state of vermont and i say there are people in washington who think their cola benefits are too generous, usually they laugh, and the reason that they laugh is that for two out of the last three years, they haven't received any cola whatsoever, nothing, while at the same time their prescription drug costs and their health care costs have been soaring, and they look at me and they say what, are these people crazy? if we haven't gotten a cola in two out of the last three years while our expenses have risen, how do they think that that cola formula is now too generous? when i speak and let's be also very clear that when we talk about this chain c.p.i., this means not on
such as alan simpson, erskine bowles and wall street billionaire pete peterson -- and peterson is one of the guys, billionaire on wall street putting huge amounts of money in order to cut social security and other important programs -- they believe that social security colas and colas for veterans' benefits are too generous, and they want to cut those cola benefits. i will tell you something, when i talk to seniors in the state of vermont and i say there are people in washington who think their...
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Sep 6, 2012
09/12
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al simpson was on obviously certified republican, erskine bowles same on democratic side. commissioner membership had been evenly distributed. that gives us a place to begin the discussion about entitlements and trying to get deficit reduction back into the appropriate proportion when it comes to the gdp. >> host: from the time of our lives, tom brokaw writes, it is time to find a framework for national service that goes beyond a military uniform and provides a long-term benefit for the country. it is fundamentally unfair to expect a small percentage of our population drawn largely from the middle and working class rapport to carry the burden and pay the price of fighting wars that are always initiated in the national interest, however credible or contrived the threat. >> guest: look, it's my hail mary in this book. i'm proposing a, what i think is a big idea and i have no illusions about how easy it will be to get it done. and it grew really out of my experience being embedded on short-term basis with troops in afghanistan and in iraq but especially in afghanistan. i was
al simpson was on obviously certified republican, erskine bowles same on democratic side. commissioner membership had been evenly distributed. that gives us a place to begin the discussion about entitlements and trying to get deficit reduction back into the appropriate proportion when it comes to the gdp. >> host: from the time of our lives, tom brokaw writes, it is time to find a framework for national service that goes beyond a military uniform and provides a long-term benefit for the...
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Sep 20, 2012
09/12
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-- chief of staff erskine bowles come to the white house and they spoke the fact. what we're saying is give the american people the facts. they will do their part to get the country back on the right path. they always have. that's what makes this country so great. so don't sell the united states of america short. don't sell the american people short just because this is an election year. they can tell when you're dealing straight with them or when you're playing politics. and right now there's no more time to play politics. in fact, i got a letter just yesterday from a west virginian. james in clarksburg, west virginia, talking about the summit. here's what he said -- i quote -- "it is time for responsible members of the senate to take to the floor and tell your fellow senators it is past time for us to take responsible action to address the fiscal crisis which is our responsibility to the people who sent us here." because it's just that. there is no excuse for delaying action until after the election. no excuse. to delay it just because of an election. madam presi
-- chief of staff erskine bowles come to the white house and they spoke the fact. what we're saying is give the american people the facts. they will do their part to get the country back on the right path. they always have. that's what makes this country so great. so don't sell the united states of america short. don't sell the american people short just because this is an election year. they can tell when you're dealing straight with them or when you're playing politics. and right now there's...
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Sep 21, 2012
09/12
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this was an exception simply because erskine bowles and alan simpson came together and did an can extraordinarily good job. we spent a year and realizing this deficit is unsustainable and unacceptable. we borrow 40 cents for every dollar we spend in this town. whether we're spending it on food stamps, on missiles, on foreign aid, on agricultural programs, we borrow 40 cents of it. and who is our number-one creditor in the world? the same nation that is our number-one competitor in the world, china. how about that? we're borrowing money from china and borrowing that money, of course, is at the expense of interest payments which continue to grow because of the cost we are faced with across the board. so we talked in the simpson-bowles commission about coming up with way to reduce the deficit in a responsible fashion. i was certain when i walked in the door we weren't going to get much done there and i was even certain i wasn't going to vote for it because i thought there were some issues here i can't see my way through. but i came to a different conclusion. i voted yes on a simpson-bowles bipartisa
this was an exception simply because erskine bowles and alan simpson came together and did an can extraordinarily good job. we spent a year and realizing this deficit is unsustainable and unacceptable. we borrow 40 cents for every dollar we spend in this town. whether we're spending it on food stamps, on missiles, on foreign aid, on agricultural programs, we borrow 40 cents of it. and who is our number-one creditor in the world? the same nation that is our number-one competitor in the world,...